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Topic: Understanding Your Financial Situation

Topic 2:

Understanding Your Financial Situation

Preparing for your Conversation with the Servicer or HUD-Approved Non-profit
Agency Housing Counselor or Attorney

• Think about Your Situation
• Writing A Hardship Letter
• What is Your Income
• Where is Your Money Going?
• Creating a Financial Crisis Budget
• What are Your Assets?
• Can You Afford to Keep Your Home?

THINK ABOUT YOUR SITUATION

When you talk to your loan servicer, housing counselor, or attorney be prepared to tell them about your
situation. Use this worksheet to summarize your circumstances. Try to be as accurate and detailed as you can.

Have you missed any payments?
If so, how many payments have you missed?
Why have you missed payments?

______

How have you tried to fix your financial situation?
Do you expect your situation to change soon?
Do you have any other resources to help you?

Once you complete this exercise, you will be ready to write a Hardship Letter. Servicers will typically require
that you submit a Hardship Letter when requesting assistance.

January 2020 | Page 18